Ashtrom Launches 306-MW Solar Park Ahead of Schedule

• Ashtrom Renewable Energy's Tierra Bonita solar park lights up Texas, energizing 75,000 homes ahead of schedule with $435 million investment in sustainable power.

Ashtrom Renewable Energy, a subsidiary of Israel's Ashtrom Group, has successfully launched its 306-MW/400-MW DC Tierra Bonita solar park in Pecos County, Texas, ahead of schedule. The project achieved energization sooner than expected due to the timely acquisition of necessary approvals for commercial operations.

The solar park spans approximately 2,200 acres and represents a $435 million investment, with $165 million funded through equity. Under a power purchase agreement, CPS Energy will purchase 60% of the electricity generated, while the remainder will be sold on the free market. The facility's output is projected to meet the energy needs of around 75,000 homes.

What are the key details of Ashtrom's Tierra Bonita solar park project in Texas?

Here are the key details of Ashtrom's Tierra Bonita solar park project in Texas:

• Location: The solar park is situated in Pecos County, Texas, an area known for its abundant sunlight, making it ideal for solar energy production.
• Project Capacity: The Tierra Bonita solar park has a total capacity of 306 megawatts (MW) with a direct current (DC) capacity of 400 MW, positioning it as one of the significant solar energy projects in the region.
• Project Scale: The facility covers an extensive area of approximately 2,200 acres, making it a major contributor to the local renewable energy landscape.
• Investment Details: The overall investment in the project amounts to $435 million, incorporating both equity and debt financing to facilitate the development and construction phases.
• Funding Sources: Out of the total investment, $165 million has been secured through equity financing, highlighting the project's strong financial backing.
• Power Purchase Agreement (PPA): Under a power purchase agreement, CPS Energy, a municipal electric utility in San Antonio, will acquire 60% of the electricity produced by Tierra Bonita. This long-term agreement ensures a steady revenue stream for the project.
• Market Dynamics: The remaining 40% of the electricity generated will be sold on the open market, allowing flexibility and potential profitability depending on market conditions.
• Environmental Impact: The solar park is expected to provide clean, renewable energy, significantly reducing carbon emissions and contributing to Texas's renewable energy goals.
• Community Engagement: The project aims to create job opportunities during both the construction and operational phases, which could positively impact the local economy.
• Energy Output Projections: The solar park's energy production is estimated to meet the needs of around 75,000 homes, providing a substantial amount of clean energy to the grid.
• Timeline: The project was completed ahead of schedule, demonstrating efficient project management and execution, alongside a quick turnaround in obtaining the necessary regulatory approvals.
• Supporting Infrastructure: The solar park may also enhance grid reliability in the region, contributing to a diversified energy mix and supporting Texas's overall energy security.
• Future Developments: Ashtrom Renewable Energy may look into expanding its footprint in the U.S. renewable energy sector by exploring additional solar or hybrid energy projects, leveraging its experience from the Tierra Bonita initiative.